How To Become A Senior Loan Consultant: What It Is and Career Path

What is a senior loan consultant and how to become one

Updated January 8, 2025

3 min read

There is more than meets the eye when it comes to being a senior loan consultant. For example, did you know that they make an average of $16.47 an hour? That's $34,256 a year! Between 2018 and 2028, the career is expected to grow 4% and produce 12,600 job opportunities across the U.S.

ScoreSenior Loan ConsultantUS Average

Salary

2.7

Avg. Salary $34,256

Avg. Salary $59,228

Stability level

7.3

Growth rate 4%

Growth rate 0.3%

Diversity

5.5

Race

American Indian and Alaska Native 0.48%

Asian 6.44%

Black or African American 9.30%

Hispanic or Latino 16.18%

Unknown 4.64%

White 62.95%

Gender

female 35.28%

male 64.72%

Age - 44

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 44

Stress level

7.3

Stress level is high

7.1 - high

Complexity level

8.8

Complexity level is advanced

7 - challenging

Work life balance

5.6

Work life balance is fair

6.4 - fair

Key steps to become a senior loan consultant

Explore senior loan consultant education requirements

Most common senior loan consultant degrees

Bachelor's

67.2 %

Associate

17.1 %

Master's

7.1 %

Start to develop specific senior loan consultant skills

Skills	Percentages
Origination	12.32%
Loan Applications	10.47%
Loan Products	8.51%
Escrow	7.05%
FHA	6.04%

Complete relevant senior loan consultant training and internships

Accountants spend an average of 6-12 months on post-employment, on-the-job training. New senior loan consultants learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a senior loan consultant based on U.S. Bureau of Labor Statistics data and data from real senior loan consultant resumes.

Research senior loan consultant duties and responsibilities

Manage all HMDA reporting, and performing post-closing review of loan documentation.
Specialize in mortgage lending for customers with complex credit portfolios and government loan programs to include FHA and VA loans.
Originate loans through FHA and conventional lenders through knowledge of programs guidelines and availability, following all of RESPA guidelines.
Maintain customer files and documents in RESPA compliance.

Get senior loan consultant experience

Generally, it takes 4-6 years to become a senior loan consultant. The most common roles before becoming a senior loan consultant include loan officer, senior loan officer team lead and account executive.

Prepare your senior loan consultant resume

When your background is strong enough, you can start writing your senior loan consultant resume.

You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a senior loan consultant resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.

Choose from 10+ customizable senior loan consultant resume templates

Build a professional senior loan consultant resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 10+ resume templates to create your senior loan consultant resume.